In April 2024, the 51st Canton Fair will open in Guangzhou, which is already the 51st spring and autumn season it has held. As the largest and oldest comprehensive international trade fair in mainland China, the Canton Fair attracts many domestic and foreign buyers and merchants to the venue for trade exchanges every year.
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This year, after watching the Canton Fair video, many foreign netizens expressed concern and dissatisfaction, believing that China's overproduction has seriously affected the rest of the world and may have a negative impact on China in the future. Netizens pointed out that more than 70,000 exhibition halls are enough to show the powerful power of China's manufacturing industry, and a Chinese enterprise can participate in the export exhibition, which has exceeded the production level of normal countries.
China's first-tier cities are full of factories of all sizes copied from industrial zones, and overproduction has already severely damaged resources and the environment, and will make it difficult for China to absorb the huge production capacity of such a large number of products in the future. China's GDP growth would be at potential risk if it relied on this model.
Other netizens pointed out from a global perspective that China's overproduction has affected other countries, especially developing countries. The prices of China's export commodities are frighteningly low, and many industries such as clothing, shoes, hats, home appliances, digital and other low-end products have swept the world, affecting and replacing the domestic industries of many third world countries.
While low prices are a good thing for consumers, in the long run it will hurt these countries' ability to innovate and develop independently. As an industrial power, China should consider how to balance its own interests with the development of other regions.
Some netizens pointed out that the Canton Fair showed too many repetitive and primary products, as if China would only produce these goods, and there were no new innovative ideas. For a powerful country, it should focus on the export of high-tech and intellectual property content, rather than simply relying on low-price competition to make profits. This is not quite in line with the innovation-driven development concept that China has been promoting.
Large-scale redundant construction has also seriously damaged resources and the environment, which is also discrete with the concept of sustainable development advocated by the Chinese government. Some netizens also pointed out that China does need to speed up the adjustment of the production capacity structure, but the reality is also very complicated. It is unlikely that a developing country will soon become a developed country that focuses only on high-tech and intellectual property exports.
China is still in the development stage, with a large population and great pressure on employment. Excessive criticism should take into account China's actual national conditions. China has already made efforts to adjust capacity and promote sustainable development, and China's efforts should not be completely dismissed. Developing countries should also support and cooperate with each other, rather than attack each other.
Foreign netizens do not agree on the same opinion. However, most agree that with the rapid growth of China's GDP and strength, China, as the largest trading country, should give more consideration to how to balance its own interests with the promotion of other countries, and how to achieve high-quality and sustainable development in the context of economic globalization.
China also needs to speed up industrial upgrading, focusing on technological innovation and the development of high value-added industries. This will be conducive to the transformation and upgrading of China's economy in the future, and it is also more in line with the concept of sustainable development. As an important window on behalf of China's manufacturing industry, the Canton Fair may be able to add more high-tech and innovative achievements in the future to show China's new development concept.
Foreign netizens do not completely deny the Canton Fair or China's development, but do hope that China can balance the relationship between different stakeholders and achieve higher quality and sustainable development. It may be able to help China cope with new challenges in a more complex global environment in the future. China's success will have global implications, and how to balance internal and external interests is a long-term issue.
What do netizens think about this matter, welcome to leave a message in the comment area to discuss!